Michael Moore Says The Economy Has Not Crashed Yet

[rsmith6621]

http://www.theyoungturks.com/story/2010/3/3/04014/30136/Diary/Michael-Moore-Interviewed-On-TYT-w-Transcript

Cenk: Because part of the problem is the implicit bribe that these guys are getting. The Treasury official just left yesterday, Damon Munchus, I believe is his name. And he's got a great lobbying gig now with the Cypress Advisory Group. So it's not just the campaign money they take, it's not just their advisors that leave, but themselves--they leave at some point and they get huge money. So how do we ever fix a system that's broken, especially given that it appears that Obama has no intention of doing so?

Michael: Well, you want the honest answer?

Cenk: Yes, definitely.

Michael: It's not going to get fixed. There's going to be another crash. The commercial real estate bubble hasn't burst yet. That's going to burst. The credit card debt is so huge right now, it will never be repaid. That's a house of cards waiting to fall. So the crash of '08 is going to look like coming attractions. And we're in for a much, much worse time. That's how I honestly feel.

But you don't want to hear that from me, do you? I mean, I'm only the guy who said that there weren't going to be any weapons of mass destruction in Iraq and that we were being lied to. And I'm the guy who 20 years ago made his first film saying that General Motors was a piece of crap company that was going to slide down the hill and bring us all down with it. So don't listen to me.

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I have to agree.....as long as our employers can continue to devalue our wages....as long as colleges can raise tuition......as long as there are no no economic checks and balances.....as long as WE continue to allow the LOBBY to run Washington DC we are still going to be in the SHITTER.....


IT AINT OVER....So You Better Hold On to Your Wallet and continue to drive that older car.... I have to agree with MOORE again..

[glowing]

1. Yes, and I think that's the reason why Obama keeps letting the Treasury

shovel money into the banks without much fuss.. The next collapse would bring down the country completely. It would cause worldwide chaos.

[merh]

2. Moore is full of crap

But you don't want to hear that from me, do you? I mean, I'm only the guy who said that there weren't going to be any weapons of mass destruction in Iraq and that we were being lied to. And I'm the guy who 20 years ago made his first film saying that General Motors was a piece of crap company that was going to slide down the hill and bring us all down with it. So don't listen to me.

He wasn't the only guy who said there weren't going to be any weapons of mass destruction in Iraq and that we were being lied to and he certainly wasn't the only one to say GM was crap, etc. If he is going to support his "the sky is really going fall" tirade with lies then he just comes off as the attention whore that he is accused of being.

[ihavenobias]

3. (Nobel Prize Winning Economist) Joseph Stiglitz and Simon Johnson

http://www.youtube.com/watch?v=MYvUSw51QKg|Top Economists - Another Economic Disaster Coming>

[jgraz]

4. I also agree with Michael Moore

So that makes three :D

[merh]

5. Michael Moore did not quote these economists did he.

That was my point. He is not all knowing, he wasn't the only one that said there were no wmds or that GM sucked.

So, Simon says to break up the banks, how does that fix things?

[Raschel]

8. He doesn't say he was the "only guy".

[merh]

12. Are you wearing your glasses?

If not, perhaps you might want to find them (or clean your contacts or go get some) and try reading his comment again.

I'm only the guy who said that there weren't going to be any weapons of mass destruction in Iraq and that we were being lied to.

He most certainly did say he was "only the guy".

And how does his WMD "knowing" have anything to do with his knowledge of the economy? Where is the connection? I said it would rain last weekend, it did. Do I get to predict the economy too and should I be just as believable?

[Raschel]

13. Yes I am wearing my glasses. :) Saying I'm "only the guy" is not equivalent to saying "I'm the only

guy".

It's like saying, "hey, I'm just the guy"..

Peace anyway.

[20score]

11. Of course he's right. Thanks.

[4lbs]

6. Didn't Ambassador Joe Wilson say the same thing at the time? I believe BushCo tried to smear him

and his wife, Valerie Plame, because he debunked their claims about Iraq trying to buy yellowcake uranium from Niger. Since Iraq never got that uranium, they couldn't have weapons of mass destruction.

The UN inspectors had already destroyed all of Iraq's chemical weapons by 1998, after the 1991 Gulf War.

The only uranium in Iraq was in the depleted uranium shells used by the US M1A1 Abrahms tanks.

[merh]

7. My point exactly.

Moore was not the only one publicly calling Bush a liar and saying there were not WMDs.

Using that claim to support his warnings about the economy is just supporting his opinion with lies. It makes it all about him rather than about the facts and that is a shitty way to make a point.

[kagi]

9. Gotta agree, the commercial bubble's not broken yet...

I'm finally starting to see rents coming down, little by little, in the residential market, and commercial rents aren't 'officially' dropping, but sweetheart deals are far more common then they used to be, with forgiving of rents, reduction during off seasons, etc being offered on a constant basis. The thing that has saved the commercial property market SO far, is that the really big failures have been snatched up quickly and quietly. But that's more financial cover up than giving any form of a solution to grossly overvalued property and ultra-high rents.

Thoughts on tuitions will have to go elsewhere, lest it lead to a thread hijack.

[punkin87]

10. K&R.